cv industries names l. snyder garrison, jr. chairman of ... · cv industries names l. snyder...

PO Box 70 / 1000 Perkins RD SE, Valdese, NC 28690 Phone: 828.874.2181 WWW.VALDESEWEAVERS.COM For immediate Release: CV INDUSTRIES NAMES L. SNYDER GARRISON, JR. CHAIRMAN OF ITS BOARD OF DIRECTORS HICKORY, N.C., July 12, 2016 – L. Snyder Garrison, Jr. has been elected Chairman of the Board of Directors of CV Industries. His election occurred at a company board meeting on June 21, 2016. Garrison succeeds Harley F. (Buck) Shuford, Jr., who is retiring as Chairman, and is a former CEO of Century Furniture Company. CV Industries is the corporate parent of Valdese Weavers and Shuford Development, a real estate holding company located in Hickory, NC. Garrison’s election as Chairman comes in the first meeting of the board of directors since CV Industries announced on May 10, 2016 that it had completed the sale of the company by the Shuford family, who formerly held a majority interest since 1935. The CV Industries ESOP Trust purchased all of the outstanding shares on behalf of the nearly 1000 employees of Valdese Weavers, creating a now 100% employee-owned ESOP company. With his new role, Garrison will be retiring after 31 years of service to Valdese Weavers, for more than the past two decades as the company’s Chief Financial Officer and Chief Administrative Officer. Also, the board filled two seats with the election of new directors, M. Bradley Blaylock, President of Thetford Financial Services of Richmond, VA, and Michael F. Shelton, President & Chief Executive Officer of Valdese Weavers. For Further Information Contact: Jennifer Wood, Communications and Marketing Manager [email protected] 828.893.4388 (office) 828.320.6079 (mobile)

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Page 1: CV INDUSTRIES NAMES L. SNYDER GARRISON, JR. CHAIRMAN OF ... · CV INDUSTRIES NAMES L. SNYDER GARRISON ... , 2016 that it had completed the sale of the company by the Shuford family

PO Box 70 / 1000 Perkins RD SE, Valdese, NC 28690 Phone: 828.874.2181 WWW.VALDESEWEAVERS.COM

ForimmediateRelease:

CVINDUSTRIESNAMESL.SNYDERGARRISON,JR.CHAIRMANOFITSBOARDOFDIRECTORSHICKORY,N.C.,July12,2016–L.SnyderGarrison,Jr.hasbeenelectedChairmanoftheBoardofDirectorsofCVIndustries.HiselectionoccurredatacompanyboardmeetingonJune21,2016.GarrisonsucceedsHarleyF.(Buck)Shuford,Jr.,whoisretiringasChairman,andisaformerCEOofCenturyFurnitureCompany.CVIndustriesisthecorporateparentofValdeseWeaversandShufordDevelopment,arealestateholdingcompanylocatedinHickory,NC.Garrison’selectionasChairmancomesinthefirstmeetingoftheboardofdirectorssinceCVIndustriesannouncedonMay10,2016thatithadcompletedthesaleofthecompanybytheShufordfamily,whoformerlyheldamajorityinterestsince1935.TheCVIndustriesESOPTrustpurchasedalloftheoutstandingsharesonbehalfofthenearly1000employeesofValdeseWeavers,creatinganow100%employee-ownedESOPcompany.Withhisnewrole,Garrisonwillberetiringafter31yearsofservicetoValdeseWeavers,formorethanthepasttwodecadesasthecompany’sChiefFinancialOfficerandChiefAdministrativeOfficer.Also,theboardfilledtwoseatswiththeelectionofnewdirectors,M.BradleyBlaylock,PresidentofThetfordFinancialServicesofRichmond,VA,andMichaelF.Shelton,President&ChiefExecutiveOfficerofValdeseWeavers.

ForFurtherInformationContact:JenniferWood,CommunicationsandMarketingManagerjwood@valdeseweavers.com828.893.4388(office)828.320.6079(mobile)

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